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Notice: A new regulation is taking effect on May 11th that requires additional information to open new business accounts. Click here for more information. 

 

Business & Municipal Banking Rates

Business Savings

Effective as of March 26, 2018

 PlatinumBlue High Yield Business Savings Interest Rate APY
$20,000.00 up to $200,000.00 1.00% 1.01%

PlatinumBlue High Yield Savings Disclosure

  • Annual Percentage Yield (APY) is based on interest compounding continuously
  • The PlatinumBlue High Yield Savings is a variable rate account
  • The rate may change after the account is opened
  • The minimum balance to open the PlatinumBlue High Yield Savings is $10.00
  • Maximum Balance Allowed $200,000.00
  • An Average Daily Balance of $20,0000 in a PlatinumBlue Business Checking account is required to earn the stated APY.

 

 Premium Business Savings Interest Rate APY
Balances of $500,000.01 or more 0.35% 0.39% - 0.42%
Balances of $100,000.01 to $500,000.00 0.50% 0.11% - 0.42%
Balances of $75,000.01 to $100,000.00 0.20% 0.08% - 0.11%
Balances of $25,000.00 to $75,000.00 0.10% 0.05% - 0.08%
Balances up to $24,999.99 0.05% 0.05%

Premium Business Savings Disclosure

  • Annual Percentage Yield (APY) is based on interest compounding continuously
  • The Premium Rate Savings is a variable rate account
  • The rate may change after the account is opened
  • The minimum balance to open the Premium Rate Savings is $25,000.00
  • Fees may reduce earnings on the account
  • Maximum Balance Allowed $750,000.00

 

Business Checking

Effective as of March 8, 2018

 Business Blue with Interest Checking Interest Rates APY
Balances up to $10,000.00 1.00% 1.00%
Balances of $10,000.01 to $25,000.00 2.00% 1.00% - 1.61%
Balances over $25,000.01 0.00% 0.81% - 1.61%

Business Blue with Interest Checking Disclosure

  • A Business Blue Checking with Interest account is considered active when a combination of 10 of the following eligible transactions are completed.
  • Eligible transactions include debit card POS (pinned or signature) transactions that post and settle during the statement cycle, ATM transactions, automatic ACH withdrawal, third party cleared check
  • A $2.50 monthly service charge will apply to this account
  • The Business Blue Checking with Interest account provides for 250 transactions, each transaction over 250 is an additional $.50 each
  • Rate is variable and subject to change without notice
  • The minimum deposit required to open this account is $100.00

 

 Interest on Lawyers' Trust Accounts (IOLTA) Interest Rates APY
IOLTA 0.15% 0.15%

IOLTA Disclosure

  • $100.00 minimum deposit required to open this account.
  • Businesses eligible to open this account are law firms for escrow deposits and conveyance deposits.
  • All earned interest is remitted monthly to The Massachusetts IOLTA Committee, monthly.

 

Municipal Savings Rates

Effective as of March 8, 2018

 Multi-Tiered Municipal Savings Account      Interest Rate APY
Balances up to $5,000,000.00 0.60% 0.60%
Balances of $5,000,000.01 to $10,000,000.00 0.75% 0.60% - 0.68%
Balances of $10,000,000.01 and over 0.45% 0.56% - 0.68%

Multi-Tiered Municipal Savings Account Disclosure

  • Annual Percentage Yield (APY) is based on interest compounded monthly
  • The Municipal Savings is a variable rate account
  • The minimum balance to open a Municipal Savings is $25,000.00
  • Rates may change after account opening

 

Municipal CD Rates

Effective as of March 8, 2018

CD Term                                                         Interest Rate APY
6 month 1.60% 1.61%
9 month 1.40%        1.41%     
12 month 1.75% 1.76%

Municipal Rates Disclosure

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Contact our professional business banking team to discuss our business banking rates further. We are here to help and are more than happy to help you with your business banking needs. Stop into one of our local branch locations near you to get started today.

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